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Former president Donald Trump‘s Trump Media & Technology is powering higher on Wednesday after a stellar debut, as investors use it as a way to bet on his re-election campaign.
Investors are flocking back to the parent company of Truth Social, driving shares up nearly 12% as of mid-Wednesday – paring an earlier increase, but still adding some $959 million to its value.The steady move higher comes after the stock jumped to a roughly two-year peak on Tuesday when the media startup traded for the first time as a public company.
The potential funds come at a critical time for Trump, who is paying millions of dollars a month to fund his ongoing legal troubles, including four criminal prosecutions. His first criminal trial – alleging he falsified business records to conceal hush money payments to a porn star before the 2016 election – is set to start on April 15.
Investors are flocking back to the parent company of Truth Social, driving shares up nearly 12% as of mid-Wednesday – paring an earlier increase, but still adding some $959 million to its value.The steady move higher comes after the stock jumped to a roughly two-year peak on Tuesday when the media startup traded for the first time as a public company.
The potential funds come at a critical time for Trump, who is paying millions of dollars a month to fund his ongoing legal troubles, including four criminal prosecutions. His first criminal trial – alleging he falsified business records to conceal hush money payments to a porn star before the 2016 election – is set to start on April 15.
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